WASHINGTON: President Barack Obama is asking Congress for $300 billion to update the nationís roads and railways.
Obama plans to make the proposal Wednesday at the Union Depot rail and bus station in St. Paul, Minn.
The Highway Trust Fund finances federal highway and transit programs but is forecast to go broke as early as August.
The fund needs $100 billion over the next six years just to maintain current spending levels. But Obama and Congress donít want to raise gas taxes to make up the gap.
Obama is proposing that half the $302 billion heís proposing come from an overhaul of corporate taxes, but he says heís open to other ideas.
He also plans to announce a $600 million competition for federal grants to fund infrastructure projects that create jobs.